Looking to balance out your exposure to CNP? The ETFs below have the lowest correlation with CNP — they tend to move on their own, which can help reduce risk when CNP drops. The stock ideas table highlights individual companies that behave independently from CNP.
Best Diversifiers for CNP
2 ETFs have low correlation with CNP (below 0.3), 2 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of -0.05, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | -0.05 | 0.14 | 0.29 | 70 | S&P 500 | CNP vs VOO | |
| State Street SPDR S&P 500 ETF | -0.05 | 0.14 | 0.29 | 70 | S&P 500 | CNP vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CNP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CNP and solid risk/return profiles. The least correlated is AppLovin Corporation (APP) (Technology) with a 1Y correlation of -0.13, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AppLovin Corporation | -0.13 | -0.01 | 0.06 | 59 | Technology | |
| Jabil Inc. | -0.09 | 0.02 | 0.13 | 92 | Technology | |
| Alphabet Inc. Class A | -0.09 | -0.02 | 0.11 | 96 | Communication Services | |
| Tesla, Inc. | -0.08 | 0.02 | 0.08 | 55 | Consumer Cyclical | |
| Seagate Technology plc | -0.06 | 0.06 | 0.14 | 99 | Technology |
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